The study will investigate insider dealing laws in the United States, United Kingdom and Kuwait to assess the effectiveness of the laws in practice. The research will be undertaken to examine Kuwait’s new experience in the field of insider dealing since the introduction of Law no. 7 of 2010 Concerning the Establishment of the Capital Markets Authority and Regulating Securities' Activity, which regulates insider dealing under Article 118. The importance of insider dealing amplified as an impact of the 2007–2009 Global Financial Crisis, which was the last in a series of historical events that led to the evolution of insider trading laws, ultimately criminalising insider dealing in addition to adding civil and administrative sanctions on insiders. In Kuwait, no previous study has used a method for analysing multiple factors related to insider dealing. Consequently, the research focuses on the practical aspect of insider dealing and unfair disclosure of inside information. Since existing studies have (a) methodological limitations (b) poorly developed theory, this research proposes a new mixed methodology for studying insider dealing based on a combination of quantitative and qualitative approaches. Data for this study will be collected through interviews with insider dealing players which are: (a) prosecutors, (b) financial authority persons (c) lawyers (d) small investors (e) CEO`S. This will allow an in-depth understanding of their experiences and views of insider dealing, the effectiveness of the available tools and sanctions. This paper also takes an investigation to the form of a comparative case-study in US, UK and Kuwait. The case study analyses will be based on the quantitative ontological position. This is through analysing the cases and obtaining figures on different variables: the number of cases, penalties incurred, the timing of perpetrations, types of offenders and offences in Kuwait, UK and USA between 2010 to 2015. The research approaches refer to the relationship between theories, laws and the collected data from the cases and interviews to find the gaps in the laws and enhance the effectiveness of the Kuwaiti stock market. Then the research will include the qualitative epistemological position that involves the researcher interpreting the legislations and the ways courts apply the rules and reply to lawyers’ defences. This will be the first comparative study which aims to reach a conclusion on the procedures and developments required in the Kuwaiti system.
Fawaz K Alkhateeb, Kuwait. My research interest is related to Financial regulation, Insider Trading. Specifically the 'Evolution of the Law of Insider Dealing'.
• Bachelor of Law from Kuwait University, Faculty of Law.
• Holds Maser of Laws from the University of Manchester, UK, during November, 2012.
• Partner and Attorney at TAG Law Firm, joined work in 2004 and still in charge till now.
• Working as Teaching Assistant at Kuwait International Law School (KIlaw®).
• Accredited Conciliator and Arbitrator in Arbitration Center, Kuwait Bar Association.
• Accredited Arbitrator in Kuwait Commercial Arbitration Center, Chamber of Commerce.
• Worked in the 'Legal Advice Centre' as Legal Adviser awarded by the University of Manchester held in association with Clifford Chance, Hill Dickinson and College of Law of England and Wales during 2011-2012.
• Vice chairman of Kuwait Mind Sports Association.
• Quality Management Systems Auditor recognised and certified by (IRCA).
• Member of Amnesty International (Human Rights Organization).
• Member of TAGLaw®.
• Member of International-Referral®.
• Contributed in several activities, symposiums and performances inside and outside Kuwait.